The rand was mixed against major global currencies on Friday afternoon, although global stock markets were generally higher, amid some optimism over easing global trade tension. Local focus was on the announcement of the government's plans to stimulate the economy, with the rand initially reacting favourably to President Cyril Ramaphosa's raft of measures to boost growth, including the establishment of an infrastructure fund. R400bn will be leveraged through various development finance institutions, pension funds, and through investors to drive the fund. R50bn in spending will also be re-prioritised within the budget to create jobs and increase growth, Ramaphosa said. The rand had pared earlier gains by Friday afternoon, but was still on track to post its best weekly performance against the dollar since December 2017. The dollar has come under pressure this week due to concerns regarding the US's long-term GDP growth outlook. The rand had gained the most against the pound on Friday ...
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